BMI View: A combination of helpful demographic trends and solid economic growth continues to underpin BMI's positive stance towards the Indian new vehicle sales market in 2016 and beyond. This quarter, we revised our auto sales forecasts for India and extended our forecast period to 2020.

Key Views - We expect sales to grow roughly 35% in the Indian new vehicle market between 2016 and 2020. - We expect commercial vehicle sales to grow more than passenger car sales over 2016-2020. - In 2016/17 there will be continued new vehicle sales growth of 6.1%. - The motorcycle segment will remain the single largest part (nearly five times the size of the four-wheel segment) of the wider autos sector between 2016 and 2020. - In the passenger cars segment, local manufacturer Maruti Suzuki tightened its already firm grip on the Indian new vehicle sales market over 2015. - The country also has a growing appetite for luxury car brands such as Mercedes-Benz and BMW.

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